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Copper Shortages Signal Bright Future For Freeport-McMoRan, Alcoa, Buenaventura: Morgan Stanley

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Morgan Stanley analyst Carlos De Alba has upgraded Freeport-McMoRan Inc (NYSE:FCX), Alcoa Corp (NYSE:AA), and Compañía de Minas Buenaventura SAA (NYSE:BVN) to Overweight, citing persistent copper supply challenges and positive developments within these companies.

Freeport-McMoRan

De Alba upgrades Freeport stock to Overweight. He expects the company to benefit from higher copper and gold prices, with a 26% upside to a $62 price target. FCX’s delivery of the PT-FI smelter and the expected Grasberg mine agreement extension support this outlook. Trading at 6.8x 2025 EBITDA and 19.0x EPS, FCX is in a strong position to gain, the analyst says.

Also Read: Freeport-McMoRan Stock Dips While Market Gains: Key Facts

Alcoa

Alcoa is upgraded to Overweight due to a …

Full story available on Benzinga.com

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